Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
4Activity
0 of .
Results for:
No results containing your search query
P. 1
Market Commentary 5Aug12

Market Commentary 5Aug12

Ratings: (0)|Views: 738 |Likes:
Published by AndysTechnicals
Techncial update of the s&p500 and u.s. dollar
Techncial update of the s&p500 and u.s. dollar

More info:

Categories:Types, Business/Law
Published by: AndysTechnicals on Aug 05, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PPT, PDF, TXT or read online from Scribd
See more
See less

09/24/2012

pdf

text

original

 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
Dollar Index Daily w/ Weekly Support
One of the things we‟ve been consistent on in the last several weeks was the concept of buying/owning theU.S. Dollar. This market continues to look like it wants to head higher. I‟m not sure where the upper end of this move might lead to, therefore this is one of those trades where you “stay long until your wrong.” In other words, keep raising the “stops” and keep holding the length. There‟s a decent chance we‟re still looking at an“expanding” triangle from the lows; we could be just in the middle of an explosive
-e- wave higher.
Bulls should consider using 82.21 and 81.19 as supports, or “stop” areas for long positions.
  Any break of the blue uptrend line should certainly cause a full blow exit of any long trades.
-a--b--c--d-(a)(b)?-e-(c)?
REPRINTED from 7/22/2012
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
Dollar Index Daily w/ Weekly Support
The idea of an “expanding triangle” has been our model for several weeks now. We will
continue to maintain this count, though confidence is waning a bit. If we were in the midst of anexpanding triangle e-wave, the market should have been rocketing higher. Primary support liesat 81.19 and/or the well-defined uptrend line (blue dashed). Bulls should be exiting the DXY on
violations of those levels. In the meantime… “hold „em if you got em.”
 
-a--b--c--d-(a)(b)-e-(c)?
[w]?[x]?[y]?
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
 
S&P 500 ~ 240 Min. with Weekly Support/Resistance
Our last message (7/1/2012) on the S&P500 suggested more choppy action higher and that it was a market that traders should just stayaway from for a few weeks. It appears that a corrective move higher has completed. It looks like a seven-
legged “diametric” ha
sfinished. If this is correct, then the S&P 500 should start collapsing. 1373 is the small 61.8% retrace of the most recent move down.
Traders should consider using that as first level “stop loss” on shorts. Second level resistance should lie at 1,389 (78.62%
).1345/1325 look like 1
st
and 2
nd
 
supports for anyone who “really wants” to be long this market….trading below those
levels would represent a full breakdown in the market.
(a)(b)(c)(d)(e)(f)(g)[c](y)
-a--b-?
[a][b][c](w)(x)[a][b]
1373 
REPRINTED from 7/22/2012

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->